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<Research>Citi Cuts BABA-W (09988.HK) EBITA Forecasts, Initiates 30-day ST Negative View
BABA-W (09988.HK)(BABA.US) will announce its 1FQ26 results in August, Citi Research issued a research report saying. Due to the strategic merger of Ele.me and Fliggy into its China...
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<Research>Citi Cuts BABA-W (09988.HK) EBITA Forecasts, Initiates 30-day ST Negative View
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BABA-W (09988.HK)  +1.400 (+1.233%)    Short selling $1.71B; Ratio 15.246%   (BABA.US)      will announce its 1FQ26 results in August, Citi Research issued a research report saying.

Due to the strategic merger of Ele.me and Fliggy into its China e-commerce business, and increased subsidies to drive cross-selling synergies, the Group's overall and Taobao Tmall Group (TTG) EBITA are expected to decline by 15% and 18% YoY, respectively.

Related NewsUBS: CN Instant Retail Competition Heats Up Rapidly; Shr Prices of JD/ MEITUAN/ BABA Expected to Be Pressured in ST
Considering BABA-W's potential investment scale of RMB50 billion over the next 12 months, Citi Research lowered its TTG/ overall EBITA forecasts. The broker currently expected FY2026 TTG/ overall EBITA to slip by 18% and 11% YoY each.

Accordingly, Citi Research cut its target price for BABA-W to $144, with rating kept at Buy, and initiated a 30-day short-term negative view. The broker anticipated that ongoing market competition and investment will further suppress earnings prospects unless there is a revaluation of AI and cloud businesses, which may otherwise pressure its share price in the short term.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-07-16 12:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)

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